Structural Insulated Panels Market Projected By Consumer, By Type, By Geographic Scope And Market Report 2023-2032|Kingspan Group, PFB Corporation, Isopan, Structural Panels Inc., Ingreen Systems Corp.

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The Structural Insulated Panels Global Market Report 2023 by The Business Research Company, provides structural insulated panels market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Structural Insulated Panels Global Market Report 2023, the market size is expected to grow from $0.41 billion in 2022 to $0.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of structural insulated panels market is expected to grow to $0.55 billion in 2027 at a CAGR of 6.3%.

The increase in emphasis on green buildings is expected to propel the growth of the structural insulated panels market. The structural insulated panel system has superior thermal resistance and, insulation capabilities, which enables the building envelope to regulate the heating, cooling, and humidity using less energy to heat or cool.

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The structural insulated panels market is segmented:

1) By Product: EPS (Expanded Polystyrene) Panel, Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel, Glass Wool Panel, Other Products

2) By Facing Material: Oriented Strand Board (OSB) Structural Insulated Panels, Magnesium Oxide (MgO) Board Structural Insulated Panels

3) By Application: Walls And Floors, Roofs, Cold Storage

4) By End User: Residential, Nonresidential

Growing collaborations and strategic partnerships among structural insulated panels companies is a key trend gaining popularity in the market. Structural insulated panel companies are focusing on manufacturing sustainable products and reducing emissions. For instance, in April 2021, Kingspan Group, an Ireland-based building materials company that produces structural insulated panels partnered with Sweden based fossil-free steel manufacturer, H2 Green Steel. The partnership would help in reducing embodied carbon in Kingspan’s insulated panel products by over 45% and aid towards net zero carbon manufacturing by 2030 with the intent of minimizing emissions to the lowest possible level.

The structural insulated panels market report table of contents includes: